The Characteristics of Excellent Businesses.
When it comes to excellent businesses, there is no right or wrong way to be an excellent business and if you asked ten different people what made an excellent business you would most likely get ten different answers, but there are some things that every excellent business has in common and we have put some of these below for you, to help you understand what an excellent business is and how you can achieve excellence for your business;
Firstly an excellent business plans and focuses, a business plan needs to be well thought out and executed to make a business excellent. When striving for excellence, excellent businesses focus on what they are good at and then look at ways to expand on what they are good at to achieve excellence for their business.
Running an excellent business is about having ambition and taking those risks, to run an excellent an excellent business you need to be motivated on something more than just money. Owners of excellent businesses are fueled by their love of the business or industry or what they sell and offer, they are also prepared to take risks because they know that by doing so they can achieve excellence instead of being left behind by not grasping the latest technology. However, risks will only be taken after full planning as we mentioned in the first point.
The owners of excellent businesses also have a strong level of commitment to both their employees and their customers; this company culture is an important characteristic that many excellent businesses have in common. Excellent business owners know that it isn’t just through great customer service that they become an excellent business for their customers, it is also about knowing and understanding their customers so well that can anticipate and fulfill the needs of their customers.
These are just three common characteristics that all excellent businesses and owners of excellent businesses have in common, of course there are many more and this list could go on forever.
What do you think it is that makes a business excellent?
Need some business guidance?
We work closely with our clients to help them review the bigger picture for their businesses and trouble shoot how to do things differently or look for gaps where something may be missing. By doing this we help to keep their businesses healthy, moving forward and staying profitable. If you’d like a conversation about how we can work with you – please do drop me an email.